The following transactions occurred for A New Company Inc. at the end of the year:
- Purchased a new building by paying $55,000 cash and signing a note payable for $200,000.
- Sold furniture that had an original cost of $11,500 for a gain of $700. The beginning accumulated depreciation was $36,000 and the ending accumulated depreciation was $31,000. Depreciation expense for the year was $2,000.
- Purchased new furniture for $10,000 cash. No depreciation has occurred on this furniture.
- Sold old computer equipment for $1,400 cash.
- Dividends of $16,000 were paid in cash
Work through your calculations for each transaction and prepare the investing section of the statement of cash flows.
Description | Amount | Total |
---|---|---|
Subcategory,Cash Flows from Investing Activities: | ||
Single line | Single line | |
Single line |